Austrian, German Investors Offered Most of Bulgaria's Schuldschein Credit

Austrian and German institutional investors offered most of the EUR 290 M that Bulgaria raised in private placement Schuldschein loans to finance its budget shortfall, the finance ministry said.
Deutsche Bank and Raiffeisen Bank International are the arrangers of the Schuldschein loan, which is not well known in Bulgaria and is used to raise capital from both private corporations, municipalities and states.
The loan agreement envisages three tranches of seven, 10 and 15 years paying fixed-rate interest rates.
The loan agreement was ratified by Bulgaria's parliament last month.
Bulgaria and Deutsche Bank had initially agreed on a EUR 360 M Schuldschein loan to help service debt payments and increase fiscal reserves.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » IMF Head Kristalina Georgieva: Forecasts for Global Economy Are Grim
- » Bulgarian National Bank Forecasts GDP Drop at 4,4 Percent Rate for 2020
- » Bulgarian PM Borissov: We Doubled the Salaries of Teachers, 1 Billion Were Invested in Educational Infrastructure
- » UniCredit Bulbank: Bulgarian Economy Will Slowly Recover in 2021
- » Bulgaria’s Minister of Finance: Our Country Will Join Eurozone in 2024
- » Bulgarian Minister of Labor: State Will Further Support Pensioners and Families with Children